Structure of Vietnam’s exports to Singapore stable | Business

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Assembly of telephone components in Diem Thuy industrial zone in Thai Nguyen province. (Photo: VNA)

Hanoi (VNA) – The two-way turnover between Vietnam and
Singapore is estimated at $1.3 billion in the first two months of 2022, up 6.3% year-on-year.

According to the Ministry of Industry and Trade, in recent years, Vietnam’s export structure to the Singapore market has been relatively stable, with many items achieving high turnover such as computers, electronic products and components, means of transport and spare parts, telephones and accessories, glass and glass products.

In addition, agricultural and aquatic products are potential commodities that Vietnam has assets to promote its export to Singapore.

Vietnam is currently Singapore’s fourth largest exporter of aquatic products, accounting for 12% of the country’s total imports for this product group.

Meanwhile, Vietnam mainly imports machinery, equipment, tools, spare parts, computers, electronics, chemicals and cosmetics from Singapore. In January-February, the value of imports is estimated at 643 million dollars, down 2.3% year-on-year./.

ANV

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